For an unknown sum, global fintech Modifi has purchased Seawise Capital’s trade financing and Software-as-a-Service (SaaS) company in India.
Modifi claims to be the only digital trade finance platform for SMEs that spans Europe, Asia, and North America – “a cluster that encompasses about 80% of worldwide imports and exports,” according to the company.
Modifi was founded in Germany in 2018 and now has offices in Berlin, Amsterdam, New York, Delhi, Mumbai, Shenzhen, Hong Kong, Dubai, and Dhaka.
It offers SMEs digital tools for financing and managing trades, as well as mitigating counterparty risk and tracking shipments. It claims to work with over 1,100 buyers and vendors in over 40 countries.
Modifi’s business in India has risen more than 2,100 per cent in the last 18 months, according to Nelson Holzner, co-founder and CEO of the company.
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